HomeMy WebLinkAboutOrdinance #209--�.�— , ,
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ORDIqANC$ �t0.' � _
ORDINA.yCE OF THS MAYOR ArID CIT? C4�J�iCiL, CIT7C OF CAl'�'TOA, ILLIN�IS
D�!!IO!lATIN(3 DEPOSITORY FOR ��DS IN CIISTODY OF CITY TABA3iTRE:t
WIiBttF.A�, pureuant to ths t�rma oP 9eotion 3-10•3 0! th� lllinoi�
Municip�l Cod• now in torc• and �fP�ct, th� Municip�l Treaiur��
r�uy b� l�quir�d to 1c��p all lli�ads and nwn�� in hia vu�tody ia
auch plao�• o! d�posit ae �ns� b� designat�d bT Ordinano�.
�OY TH14tF.FORE, d� It Ordall�d b� th� Ma�or �nd tl� Cit� Council�
City o! Canton, E�ultou Cvunt�, Illinois, u folla�rs=
�iOTIO� That t2u ExCNAt�aB 11ATI0�lAL SAIfL OP CAICAaO, 1j0 ,vuth
T,a3aI • r��t, Ohicago, Cook Count�, Illinoie, b� ar�d ie hsleby
deaignat�d, �ubj�ot to th� pro�isions ot g�otion 3 0! thia Ordinar�c�,
as oru of th� a�poaitari�a in Mhioh th� lun�d� and �an�7• of th�
aaid Cit� tran tinN to tiMS in the cuat�d� of Ehe '1'r�aaurer ot th•
Cit� �nay b• depocit�d in a Certilicats of Depo�it, ohscking tocaunt
and/or a savings aocount.
SRCTIOIi �s That th• se�id A�nk b• and it is hareb� authoria�d Lo
pa�"�hs funde of this Cit� an d�por+it a� afors�aid vith i�
l�om ti�ae to tirne upon cheeks �axn upon said d�poeitory and •igned
in the nam� of ths City b� ita olfic�re o! th� Ci`� aa folloxst
Ma�or, City Cisrk and City Tr�aeur�r.
SECT'I011 s That th� Bank h�r�in d��ignat� a� a d�po�itoly •hall
�i�'�S's ac ing as euch d�poeitor�� hirni�h ttu aorpozat• authoriti��
of ths �ity wit), co�iee of all erorn stats�nts o! r�sourose �
liabilitisa whiah auah Hank ia �q�iired to !1�l� to th� AuaitoT
of �'ublia �CCOUnts or to �h� Comptroll�ar af Curr�noy. �
0 s Tbat �uah fund• or n�oni�• d�posit�d in th� eanlc �!�ia
•• gna ed a• • d�po�itorT shall not uce��d •���at�-!i�• �T5�1 p�=
Qent of th� oapit�l �tock and sulplu• ot auoh Dank �nA ths atar�-
aaid Trea�ur�r ehall aot b� di�oharpd !'ro� r��poasibilit� for �n�
•uch 2'unAe or �oni�• d�Dosit�d in •�id Bank in �zoeaa ot such llw•
it�tion.
SSCTIoA : ?hat tb� corpo�rat• authoTiti�• o! th� Cit� u o! !h�
a • o h� �option o! this Ordinan�o�, h��� r�c�ind a eapy o!
th� laet tr►o �wern •tat�w�nt� o! l�saura�• and liabiliti�• whioh
the •aid Bu�lc !e requir�d to lurniah to the Auditor o! Publie Aa-
oaunts or th� Cowptroller of Ous�s�no�.
BSCTIOIi 6: Th�t th• �lerk of ths Cit� shall !il• with th� sai!!
'g`Tc i irtili�d oop� of thie Ordinano• uud�r th� a�al of this Cit��
and •h�ll aleo fil• �rith t?u a!'or�aaid Pank • c�rtifi�d etatsr.t�nt
of th� pereona at the pr�eenE tiM holding th� olfio�s o! Ma�or�
T�suur�r� and Clsrk oP the CiE�� And it sh#�ll b� aanclusi��lT p�• "
sw+t�d th�t •aid p�r�on• eo o�rtifi�d ts holdinE,r �uoh offia• oontinu�
to holA th• �am� until th� afor�eaid nank ia oth�rwie• notiti�d in
writing b� th� Cl�rk ot' the r.ity.
SBCTIoN : This Ordinanc� ah�ll b� in !'till loro� and •fl�ot and �
n ng upon th• �it� until it �hall hav� b��n r�p�al�d, and vritt►�a
notio• of •uoh r�p�al und�r th� i��l o! th� Cit� •ha11 ha�� b��u d�-
1i��r�d to th� •aid Bank.
♦DOlTBD THIS ��;� da� ot 196T, ♦.D. , bT th� lollowing
roll oall ♦otet
AY'sSt �����nAn C�oree. Danner. Yerbic. S�encer._ Kro�ll. �Llis. Skinner. Se�ich.
�� Jacobs Svob Farr Howard and Rusnak.
� � NAYS; one.
�PPROYED b� th� Mayu! thi• � ay ot , 1967, A.D.
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